Prudential Vietnam launches new universal life insurance products

October 22, 2019 | 11:30
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Prudential Vietnam Assurance Private Ltd. (Prudential Vietnam) has launched two new Universal Life products, PRU-SafePlus and PRU-FlexiProtect. The new solutions combine savings benefits and protection into one, empowering customers to design a holistic financial protection plan that helps them fulfil their financial goals and protects them against unexpected risks.
prudential vietnam launches new universal life insurance products
Prudential Vietnam launched PRU-SafePlus and PRU-FlexiProtect

With PRU-SafePlus, in addition to savings benefits, Prudential customers are protected against 99 different critical illnesses. PRU-SafePlus also offers a high level of protection coverage from early and late-stage detection, with a benefit payment of up to 250 per cent of the sum assured, including an additional benefit of 50 per cent for the three most common critical illnesses, namely heart attack, stroke, and cancer.

To ensure that customers are sufficiently protected, the policy provides continuous coverage for multiple illnesses and waiver of future premiums if they are found to be in the last stage of a critical illness. PRU-SafePlus, therefore, helps ease the financial burden from a critical illness and more importantly, help customers maintain their quality of life during a time of crisis.

According to Nielsen’s “Global Consumer Confidence” survey conducted in the second quarter of 2019, health is a top concern for Vietnamese people. In addition, while Vietnamese believe unexpected accidents and illnesses will have the biggest impact on them financially, only one-sixth are financially prepared to cope with a possible crisis, according to a Prudential Vietnam-sponsored study on the life insurance industry in 2018.

While PRU-SafePlus is targeted at the growing number of Vietnamese families that seek a financial plan with critical illness protection, PRU-FlexiProtect offers customers flexibility in their coverage to meet their needs across different life stages.

Besides providing comprehensive insurance protection against life’s unexpected risks such as death, accidents, disability, critical illness, and hospital care through exclusive optional riders, PRU-FlexiProtect also provides competitive saving benefits such as a guaranteed minimum interest return, loyalty bonus, and retention bonus to enable customers to actively accumulate wealth for their future.

These solutions reinforce Prudential Vietnam’s ongoing commitment to support its customers as they progress in life. They also highlight Prudential’s commitment as well as its agility in meeting the evolving health needs of customers.

Clive Baker, chief executive officer of Prudential Vietnam, said, “Based on recent studies, we understand that Vietnamese consumers are not just worried about their health but seek to manage it via improving their lifestyles, eating healthily, exercising, and protecting it with insurance. By introducing these new competitive solutions, we hope to encourage our customers to be proactive in protecting themselves and their loved ones, as well as to pursue their passions and achieve their life goals.”

By Tan Duong

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